Suryoday Small Finance Bank initial public offering fully subscribed

The initial public offer of was fully subscribed on the second day of subscription on Thursday.

The Rs 582-crore issue received bids for 1,36,77,272 shares against 1,35,15,150 shares on offer, as per the NSE data.

The portion meant for non-institutional investors has subscribed 20 per cent and those for retail individual investors (RIIs) 2 times.

The initial public offer (IPO) of 19,093,070 equity shares comprises a fresh issue of up to 8,150,000 equity shares and an offer for sale of up to 10,943,070 equity shares.

The price range for the offer has been fixed at Rs 303-305 per share.

on Tuesday raised a little over Rs 170 crore from anchor investors.

The bank has proposed to utilise the net proceeds from the fresh issue towards augmenting its capital base to meet future capital requirements.

The small finance bank has over 20 institutional investors with a mix of institutional investors, development funds, and private equity investors.

Axis Capital Limited, ICICI Securities Limited, IIFL Securities Limited and SBI Capital Limited are the managers to the offer.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link